Local news- Press Release
Cedar Rapids City of Five Seasons IO - ROOTs Program Application Opening Date Announced 15 February 2024 ( news )
Cedar Rapids City of Five Seasons , state IO ( By Press Release office)
Feb 15,2024
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The City of Cedar Rapids announced the opening of applications for the next iteration of the ROOTs program at a media event on Thursday , February 15 . ROOTs , which stands for Redeveloping Ownership Opportunities Together , aims to assist with long - term recovery from the 2020 Derecho by providing resilient and affordable single - family housing to low - to - moderate - income households .
Administered through a partnership between the City of Cedar Rapids and the Iowa Economic Development Authority ( IEDA ) , with funding provided under the U . S . Department of Housing & Urban Development’s ( HUD ) Community Development Block Grant – Disaster Recovery ( CDBG–DR ) Program , ROOTs was allocated approximately $15 million for the development of 76 housing units . Construction is scheduled to commence on most of the homes this spring .
Program Details
Apply Online
Key program criteria include:
All housing units must be sold to low - to - moderate - income households which make 80% of the area median income or less .
Households must have the ability to secure their own mortgage .
Maximum sales price is $175 , 000 per unit .
Downpayment assistance up to $35 , 000 is available to eligible buyers .
Households impacted by the 2020 Derecho will receive the first opportunity to purchase a home within the first four months of advertising . ( Examples can be found on the program website . )
All units will incorporate green building practices .
The affordability period will be for 15 years , enforced by a forgivable lien on the property .
Download application checklist ( pdf )
“The ROOTs program represents the City’s continued commitment to addressing affordable housing needs , ” said City Manager Jeff Pomeranz . “This program will be transformative , and we think the families will be thrilled with the quality of homes provided . ”
“Affordable housing remains a key focus area for our City Council and in our City planning efforts , ” said Mayor Tiffany O’Donnell . “We encourage all eligible individuals to take advantage of this opportunity to secure stable housing for themselves and their families . ”
Prospective applicants are encouraged to visit
CityofCR . com/Rootsfor more information and to access the application form and eligibility criteria . Applications will be accepted starting Thursday , February 15 , 2024 .
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